Minister of Petroleum and Mineral Resources Karim Badawi said Egypt has strong infrastructure that positions it to play a key role as a regional energy hub in the Mediterranean.
Speaking at the opening of the Mediterranean Offshore Conference & Exhibition (MOC 2026) in Alexandria on Tuesday, Badawi highlighted the importance of regional co-operation with countries such as Cyprus and making use of Egypt’s liquefied natural gas (LNG) facilities in Idku and Damietta to connect gas resources with international markets.
He said Egypt’s petroleum sector had fully settled its outstanding dues to foreign partners, totalling around $6.1 billion. The sector also connected 591 new wells to production and made 113 new discoveries, as part of efforts to offset declining domestic output and create a sustainable, attractive environment for investment.
Badawi said these achievements were recorded between July 2024 and June 2026.
He added that the sector continued to sign new exploration agreements and implement development programmes to improve operational efficiency and ensure a stable supply of energy to meet the needs of the domestic market, which serves around 120 million people.
The minister also highlighted Alexandria’s industrial importance, noting that the city is home to four oil refineries and five petrochemical complexes. Together, these facilities account for around 45 per cent of Egypt’s total refining capacity.
He pointed to ongoing investment in major facilities, including the Middle East Oil Refinery (MIDOR) and Alexandria Petroleum Company, to increase added value.
Badawi reaffirmed the sector’s commitment to supporting industrial development and strengthening integration between infrastructure and regional resources.
He also thanked international partners and petroleum-sector technical teams for their joint efforts to overcome geopolitical challenges and achieve these results.
